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lori: what do you think takeaway -- >> by the way neither can john boehner, good point. what is the takeaway among the best solutions for the fiscal cliff among all the people you talk to? >> the most intelligent thing to do here, i know a lot of people won't like this, to defer the decision until people come in with a new congress. we have a new congress coming in with the president beginning his second term and take at least section to nine months to resolve the tax --. melissa: here comes the president right now. first news conference since re-election. let's listen in. >> i hear you have some questions for me but, let me just make a few remarks at the top and then i will open it up. first i want to reiterate what i said on friday. right now our economy is still recovering from a very deep and damaging crisis. so our top priority has to jobs and growth. we've got to build on the progress that we've made because this nation succeeds when we've got a growing thriving middle class. that is the idea a the core of the plan that talked about on the campaign trail over the l
lori: what do you think takeaway -- >> by the way neither can john boehner, good point. what is the takeaway among the best solutions for the fiscal cliff among all the people you talk to? >> the most intelligent thing to do here, i know a lot of people won't like this, to defer the decision until people come in with a new congress. we have a new congress coming in with the president beginning his second term and take at least section to nine months to resolve the tax --. melissa:...
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john boehner about a year and a half ago stopped about 800 alien dollars worth of revenue through tax reform. republicans won't give a number now but they want tax reform and an overhau overhauled the entirm to generate new revenue. there was talk about this yesterday with treasury secretary commissioner who said to that idea pretty much forgot about it. >> there is a lot of magical thinking about how much money can raise from tax adventures. people will look at that question and concluded i think incorrectly that there is a huge amount of resources. i think that is untrue. >> a dozen of ceos meet with the president and a couple of hours from now after the president's news conference at 1:30. a number of these executives have been to the white house before. members of the export council, jobs council, ceo of of ge, tao, ford, also say what the white house on the different councils in some form or another. cheryl: we will be taken the tae news conference from the president lives and the ceo will have something to chew on afterwards. thank you very much. dennis: might get a little awkwa
john boehner about a year and a half ago stopped about 800 alien dollars worth of revenue through tax reform. republicans won't give a number now but they want tax reform and an overhau overhauled the entirm to generate new revenue. there was talk about this yesterday with treasury secretary commissioner who said to that idea pretty much forgot about it. >> there is a lot of magical thinking about how much money can raise from tax adventures. people will look at that question and...
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boehner has been ee re-elec. what about mitch mcconnell. he sounds as object strucktive as he has over the last four years. what's going to happen to him? >> i went to his photo op yesterday where he unveiled new members of the republican freshman class. they could have had that in a broom closet because there were only three of them and they were sitting there nodding their heads and grinning for the cameras. is he going to play the bad cop here. i mean, boehner at some point is going to be in a position of actually having to lead. mcconnell can still be, because he's in the minority, can still be -- well, he can't make it his top priority to defeat obama but he can make it a top priority to defeat all of obama's policies. >> wouldn't it be great if they actually worked together? >> it's important to keep in mind john boehner is an old school guy willing to cut deals and be reasonable and compromise. now, the question is whether or not with eric cantor and the rest of the leadership kind of eyeing him how far he'll be able to go. but boehn
boehner has been ee re-elec. what about mitch mcconnell. he sounds as object strucktive as he has over the last four years. what's going to happen to him? >> i went to his photo op yesterday where he unveiled new members of the republican freshman class. they could have had that in a broom closet because there were only three of them and they were sitting there nodding their heads and grinning for the cameras. is he going to play the bad cop here. i mean, boehner at some point is going to...
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thank you. >> so now that we have accepted even in boehner land that obama care is the law of the land, do you think that this will make the american health care system better? >> absolutely. i think that we are entering a period of time where we can get down to the very hard work that needs to be done to improve the health care of nation. and now that we are past the election and all sides agree that the affordable care act is the law of the land it gives the patients in the country, this country a much greater deal of certainty and security that our health care system is going to be there for them if they need it. >> well, arkoosh i think in addition to the fact we live in a nation where we're taxed for merely existing, there are still some people who aren't decided about obama care. in fact, politico had exit polling after the election showing the country's split down the middle on whether obama care should be repealed, partially or interly or kept. "forbes" has an article out called "five ways to protect yourself against obamacare." a concern is a doctor participate in a mass exodu
thank you. >> so now that we have accepted even in boehner land that obama care is the law of the land, do you think that this will make the american health care system better? >> absolutely. i think that we are entering a period of time where we can get down to the very hard work that needs to be done to improve the health care of nation. and now that we are past the election and all sides agree that the affordable care act is the law of the land it gives the patients in the...
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the president didn't offer any specific thing along the lines what have we heard from john boehner last week, okay, we're there on reven on the table, we'll meet you there. i didn't hear any specific -- >> don't we already have a structure? wasn't that erskine-bowles? it is another committee. >> it is a step back i think from the idea of a deal right now that would trade entitlement reform for tax increases. it sounds to me like it's tax increases for the wealthy in return for a commitment to discuss entitlement reform. >> what you did hear from the president is a statement that the american people knew what they were get what they re-elected me. he also said there is a big contrast between me and mitt romney on the campaign trail and i'm the guy who won the election. >> as one of our smart viewers tweeted in which i thought was so smart -- it's all fun and games until you have to name specific entitlements you want to cut. right? we need more specifics from both sides. all right, going to a break here but after the break, steve leisman, stick around. we also have something today called
the president didn't offer any specific thing along the lines what have we heard from john boehner last week, okay, we're there on reven on the table, we'll meet you there. i didn't hear any specific -- >> don't we already have a structure? wasn't that erskine-bowles? it is another committee. >> it is a step back i think from the idea of a deal right now that would trade entitlement reform for tax increases. it sounds to me like it's tax increases for the wealthy in return for a...
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that's the problem boehner had. if boehner had 35 safe republicans, safe from a primary challenge, safe from somebody from the right on taxes, i think this deal would have happened even a lot sooner. they might have gone ahead and passed parts of -- most of that bill that came through the senate. >> they have to schedule -- the thing about leadership is they have to schedule a bill. that's the tricky part. let's take a look at this. a very interesting moment in the press conference today, extremely interesting when president obama was asked about comments from his former opponent, john mccain, who made some nasty comments about susan rice, the united states ambassador to the u.n. and she may well be the head of the state department soon. here's the president responding in a very personal way. i thought this was really a moment here. >> let me say specifically about susan rice. she has done exemlary work. she has represented the united states and united nations with skill and professionalism and toughness and great.
that's the problem boehner had. if boehner had 35 safe republicans, safe from a primary challenge, safe from somebody from the right on taxes, i think this deal would have happened even a lot sooner. they might have gone ahead and passed parts of -- most of that bill that came through the senate. >> they have to schedule -- the thing about leadership is they have to schedule a bill. that's the tricky part. let's take a look at this. a very interesting moment in the press conference today,...
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house speaker john boehner kicked things off there. nothing directly in terms of commenting about what the president said today about wanting to raise the tax rates on the highest income earners. the american people need to see us act courageously and lead boldly and expects the president to do the same. >> the president didn't say much. the president was very vague. he didn't say anything about spending cuts and didn't talk about entitlements but just about doubling up the tax bigs. that sounds like a guy who is digging in. it doesn't sound constructive on a day when i thought the president was very aggressive and his tone did not send one conciliatory feel. >> sounds like stalemate. >> that's digging in your heels. i don't think that is particularly market bullish. >> not given the action we saw today. >> thanks for stopping by. it is time to set the record straight when it comes to net flex. how likely is a deal? our traders have answers. big lockup expiration brings a day of reckoning for facebook. telling you what to watch for. ho
house speaker john boehner kicked things off there. nothing directly in terms of commenting about what the president said today about wanting to raise the tax rates on the highest income earners. the american people need to see us act courageously and lead boldly and expects the president to do the same. >> the president didn't say much. the president was very vague. he didn't say anything about spending cuts and didn't talk about entitlements but just about doubling up the tax bigs. that...
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say republicans do not quite see things that way, speaker boehner refusing to consider a rate hike would put the would expect of an end of year deal to avoid a cliff locking more like a chasm. the public debt watcher is our guest. what do you think? >>guest: well, the president did double down on raising taxes today. he is taking the easy way out. he didn't talk about spending. he had a casual mention of cutting spending and addressing entitlements and those are the drivers of the debt. we have to be clear this starting offer is $1.6 trillion raising taxes we had $1.2 trillion deficit just last year. i don't think this is a one-sided problem. >>neil: something happened between the negotiating situation and removing the other argument, the spending argument and $1.6 trillion insisting it be a rate cut orate hike, he has removed doubt where the negotiations should go. is he interpreting or overinterpretting the election? he says the american people support that view. what do you think? >> i don't think the american people support that. if his own campaign, axelrod came out and said the pre
say republicans do not quite see things that way, speaker boehner refusing to consider a rate hike would put the would expect of an end of year deal to avoid a cliff locking more like a chasm. the public debt watcher is our guest. what do you think? >>guest: well, the president did double down on raising taxes today. he is taking the easy way out. he didn't talk about spending. he had a casual mention of cutting spending and addressing entitlements and those are the drivers of the debt....
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late today, boehner said the president's position is flawed. >> we are not going to hurt our economy an make job creation more difficult. which is exactly what that plan would do. >> letter sent by the u.s. chamber of commerce and signed by 232 organizations calls on the president and congress to immediately extend all the tax cuts and find other cuts to replace sequestration. the president suggested taking a closer look at reforming entitlements without offing details and says he would like to simplify the tax code. mr. obama says he wants congress to act now to extend tax cut for middle class and try to avoid boxing himself in on upcoming negotiation. >> i'm open to come plo mize and new ideas. i have been encouraged for republicans to agree to more revenue as part of the arithmetic if we are serious to reduce deficit. >> the top republican in senate who is a key player in upcoming talks says raising taxes on the upper income americans does not add up. >> you can't raise taxes enough. the argument on whether or not we should raise tax rates on people above $250,000 would have produ
late today, boehner said the president's position is flawed. >> we are not going to hurt our economy an make job creation more difficult. which is exactly what that plan would do. >> letter sent by the u.s. chamber of commerce and signed by 232 organizations calls on the president and congress to immediately extend all the tax cuts and find other cuts to replace sequestration. the president suggested taking a closer look at reforming entitlements without offing details and says he...
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speaker boehner, senator minority leader mitch mcconnell, paul ryan. all of them saying they will fight the president on taxes. all of them saying the president doesn't have a mandate. but president obama has something to say about that. >> i have one mandate. i have a mandate to help middle class families and families that are working hard to try to get into the middle class. that's my mandate. >> this is a clear message. it's what americans voted for a week ago. are you sure you want this fight, republicans? democrat from pennsylvania chuck fatah and ezra klein, msnbc policy analyst. he's writing about the fight over taxes today and the piece is called "the big question: how, not whether, to raise taxes." thank you for joining me tonight. >> thank you. >> good to be here. >> congressman, do you think republicans will make a deal or is this 2010 with the tea party all over again? >> well, what the public needs to understand is the income tax system is not fair to them. there is a report done by the congress each year by the joint committee on taxation
speaker boehner, senator minority leader mitch mcconnell, paul ryan. all of them saying they will fight the president on taxes. all of them saying the president doesn't have a mandate. but president obama has something to say about that. >> i have one mandate. i have a mandate to help middle class families and families that are working hard to try to get into the middle class. that's my mandate. >> this is a clear message. it's what americans voted for a week ago. are you sure you...
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how will it affect the upcoming talks with john boehner? two top-tier negotiators give their insight into how the meeting could unfold. >>> and trading places. charles schwab ceo talks exclues i havely to maria about the current crisis of confidence in the stock market. could a deal on the looming fiscal cliff be just the shot in the arm sagging equities need? that and a whole lot more is ahead on the "closing bell." >>> all right. we want to show you a live picture of the white house. we are waiting for the ceos to start tricking out of the white house. they are in a meeting right now with president obama talking about the fiscal cliff, talking about ways to get the deficit and debt situation in this country in order. as soon as those ceos start coming out, they include the ceo of honeywell, ibm, a number of ceos in industrial businesses. of course, the only financial services representation there is american express. no other bank was invited to this meeting. as soon as these guys and gals start walking out, we'll bring you some interview
how will it affect the upcoming talks with john boehner? two top-tier negotiators give their insight into how the meeting could unfold. >>> and trading places. charles schwab ceo talks exclues i havely to maria about the current crisis of confidence in the stock market. could a deal on the looming fiscal cliff be just the shot in the arm sagging equities need? that and a whole lot more is ahead on the "closing bell." >>> all right. we want to show you a live picture...
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. >> reporter: but republican house speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: bainer and other top republicans have proposed eliminating deductions and loopholes that benefit the wealthy instead raising their tax rates. >> we are not going to hurt our economy and make job creation more difl which is exactly what that plan would do. >> reporter: today the president argued closing loopholes alone won't be enough to cut the deficit. he'll have that argument face to face with wayne or friday. one of the most frequent criticisms we've heard over the past few years from members on both sides if you haven't done enough to reach out and build relationships. are there concrete ways you plan to approach your
. >> reporter: but republican house speaker john boehner has balked at that idea. it would take away most of his party's leverage in fiscal cliff negotiations. >> there are a lot of issues on the table that have to be resolved by the end of the year, and i think i've laid out a reasonable framework where both parties can work together, and i'm looking forward to going down to the white house on friday and beginning that conversation. >> reporter: bainer and other top...
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harry reid and john boehner staying put. the president back in, what people would expect musical chairs. none will happen. it's the same people in the same positions and yesterday senate majority leader mitch mcconnell took to the floor and said they won't compromise. we had that interview with paul ryan with abc's jonathan karl saying it's not a mandate. they have a divided government so they'll continue with back and forth of head butting and the taxes should not be raised on wealthiest americans. are we headed just for the same old same old once again? >> i don't think so. first of all we are very pleased about nancy pelosi remaining as leader. she's done an extraordinary job in helping to increase our numbers here on the democratic side, in raising the money that was necessary for us to strengthen our hand here in the house and so she has done such a good job that we urged her to please stay on and that experience really does count. let me just say this, there is some posturing going on and i do think that this posturing
harry reid and john boehner staying put. the president back in, what people would expect musical chairs. none will happen. it's the same people in the same positions and yesterday senate majority leader mitch mcconnell took to the floor and said they won't compromise. we had that interview with paul ryan with abc's jonathan karl saying it's not a mandate. they have a divided government so they'll continue with back and forth of head butting and the taxes should not be raised on wealthiest...
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both for president obama and for the house majority leader boehner. mitch mcconnell at least in public he tendses to look at president obama like a hitchhiker with pets or something. he doesn't want anything to do with him. if he continues to hold it, his first statement election night after president obama won, to say the least not very generous. >> not quite bipartisan. >> if mcconnell holds to that line, then big trouble for the obama agenda and for what boehner and others hoped to accomplish and big trouble for the country. some things you feel congress is so out of touch, i don't know how they could be after this election but, you know, there's out of date as these belt and slacks men used to wear. >> the metaphors are beautiful. >> belts and slacks. >> i love it. >> but i actually think there is a lot of truth there, which is they have the lowest approval rating historically. the obstructionism i don't think you can play it again for another two years. >> i think this is one where the members of the republican caucus in the senate have to let th
both for president obama and for the house majority leader boehner. mitch mcconnell at least in public he tendses to look at president obama like a hitchhiker with pets or something. he doesn't want anything to do with him. if he continues to hold it, his first statement election night after president obama won, to say the least not very generous. >> not quite bipartisan. >> if mcconnell holds to that line, then big trouble for the obama agenda and for what boehner and others hoped...
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boehner and mcconnell still in charge. although they did better and you could argue there's no reason. are you surprised there's not a push to change leaders inside your party even if it's just the face of the party a little bit? >> it's difficult. within the house there is -- i think there will be a battle for the conference chair. >> but it's a -- >> i'm surprised, yeah, but at the same time, we need strong leadership and a strong speaker and i think boehner can do a good job -- >> looks like he's going to get more political leeway. he doesn't have eric cantor. it seems like there's for trust between the two but, jackie, if the american people had known they not only were re-electing status quo but the same people are in the room that gave us the gridlock, i wonder how that ballot would have turned out. >> i wonder if he said it's going to be the same people in the room, and, you know, a lot of this is going to be theater. we were talking about that for the first couple of days, hopefully not weeks but there will be a lo
boehner and mcconnell still in charge. although they did better and you could argue there's no reason. are you surprised there's not a push to change leaders inside your party even if it's just the face of the party a little bit? >> it's difficult. within the house there is -- i think there will be a battle for the conference chair. >> but it's a -- >> i'm surprised, yeah, but at the same time, we need strong leadership and a strong speaker and i think boehner can do a good...
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and that is double the amount that john boehner reportedly offered him when they were trying to avoid the fiscal cliff last summer. one wonders whether, given that he just re-won the white house -- the president thinks he's in a better position to convince john boehner? reporter: well, it will be interesting to see. there has been talk that he might start on the campaign trail again. he might hold rallies after thanksgiving. saying that we need to war money from the people that make a higher income. this is back in august of 2011, part of the debt deal negotiations. that is what blew up those talks. the idea of 1.6 billion -- things will change. but as of right now, that would be an absolute nonstarter among senators on capitol hill. megyn: these republicans, many of them were reelected. i am to say that they have a mandate from their constituents to keep doing what they have been doing. particularly in not raising taxes, which is such a thorny issue over the past few years. notwithstanding the fact that when you survey the majority of americans, they want to see taxes go up on the ri
and that is double the amount that john boehner reportedly offered him when they were trying to avoid the fiscal cliff last summer. one wonders whether, given that he just re-won the white house -- the president thinks he's in a better position to convince john boehner? reporter: well, it will be interesting to see. there has been talk that he might start on the campaign trail again. he might hold rallies after thanksgiving. saying that we need to war money from the people that make a higher...
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look at how scripted john boehner had to be when he said revenue. where democrats fell out of their chairs. he had to do it with a t ee teleprompter. >> god bless him. raising tax rates is not the answer to this. >> but you know what, look. i know karen, other democrats believe they got this great mandate. but house republicans believe they got a mandate to put a check and balance on senate democrats as well as the president. so we are going to have to have a compromise for a change. >> we have a mandate and for president obama you would hope that he would start thinking now about what is his legacy and does he want to leave office with a terrible economy. i don't think in year eight he is going to be able to blame george bush. he ought to start thinking about economic growth. this is probably the least harmful way. > exit polls show that that george w. bush hurt romney tremendously. >> the polls are the polls. but the point i'm making in the second term, it is president obama's don mi aeconomy and def. he is going to have himself a hard time. thank
look at how scripted john boehner had to be when he said revenue. where democrats fell out of their chairs. he had to do it with a t ee teleprompter. >> god bless him. raising tax rates is not the answer to this. >> but you know what, look. i know karen, other democrats believe they got this great mandate. but house republicans believe they got a mandate to put a check and balance on senate democrats as well as the president. so we are going to have to have a compromise for a...
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if they're going with boehner, it's a sign they'll deal. >> i want to bring in a democrat on both the armed services committee and select committee on intelligence and the fiscal cliff if i might. do you think the republicans will come to play? >> i believe that they will. it's my hope that everyone has gotten the message loud and clear that the american people expect us to compromise, democrats and republicans coming together to solve the fiscal cliff issue but in a balanced way and that is certainly what president obama has campaigned on protecting a strong middle class, allowing the tax cuts to expire above $250,000, but we can't be afraid to compromise but we can do that without compromising our principles. >> is part of this deal-making that the president wants to start his offer with more from the revenue side, the deal that fell apart, have $800 billion in revenue over ten years, now he might want to start with 1.6 trillion? >> sure, we're just -- let's put this in perspective. we have just over a trillion dollar budget deficit this year. so this part of raising additional reve
if they're going with boehner, it's a sign they'll deal. >> i want to bring in a democrat on both the armed services committee and select committee on intelligence and the fiscal cliff if i might. do you think the republicans will come to play? >> i believe that they will. it's my hope that everyone has gotten the message loud and clear that the american people expect us to compromise, democrats and republicans coming together to solve the fiscal cliff issue but in a balanced way...
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. >> republicans under speaker boehner are saying, look, that's not going to happen. where is the wiggle room? how would you advise the president, the republicans to come up with something that's workable? >> well, you know, some sg is going to happen anyway, suzanne. if they don't reach agreement before the end of the year. those tax rates are going to go up, and the question is how long can the republicans in congress hold out once that happens, and they're going to be held responsible. there was a poll out yesterday that showed people will blame the congressional republicans for going off the fiscal cliff. people decide they had agreed with the president. the president has leverage. after the first of the year he is going to have more help in the senate, more help in the house, and he will have automatically higher tax rates, so the question will be will the republicans in the house and senate vote to lower the rates for the middle class because they will have gone up. one way or the other it will be resolved. that $3,500 tax on families, it's not going to happen.
. >> republicans under speaker boehner are saying, look, that's not going to happen. where is the wiggle room? how would you advise the president, the republicans to come up with something that's workable? >> well, you know, some sg is going to happen anyway, suzanne. if they don't reach agreement before the end of the year. those tax rates are going to go up, and the question is how long can the republicans in congress hold out once that happens, and they're going to be held...
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house speaker john boehner has less support each day for a hard line approach. republican opposition to tax increases is slipping in congress. anti-tax lobbyist grover norquist no longer as a majority of supporters in either chamber. "the hill" says newly elected republicans refuse to sign the anti-tax pledge during the campaigns and another handful of returning republicans have disavowed their alliance to the written commitment. it's about time. at least they paid attention to the election. today bobby jindal scolded the entire party for the approach to the economy. hold it right there. this comment, he sewer sounds like a democrat. we've got to make sure that weren't the party of big business, big banks, big wall street bailouts, big corporate loophole, big anything. we cannot be, we must not be the party that simply protects the rich so they get to keep their toys. bobby, come on over to the good side, dude. you're talking like a conservative democrat. momentum is on the president's side. he just needs to know how motivated his allies are. the hard work didn'
house speaker john boehner has less support each day for a hard line approach. republican opposition to tax increases is slipping in congress. anti-tax lobbyist grover norquist no longer as a majority of supporters in either chamber. "the hill" says newly elected republicans refuse to sign the anti-tax pledge during the campaigns and another handful of returning republicans have disavowed their alliance to the written commitment. it's about time. at least they paid attention to the...
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if speaker boehner says i'll go along with that, that's where we'll start. i think the conversation is under way for a solution. >> ifill: senator durban, are you kicking the can down the road by only talking about the tax ruts and not talking about the spending cuts as well? >> let me tell you something, i was on the bowles simpson commission, i voted for it, bipartisan commission that included spending cuts as well as revenue increases. i know that to reach four or five trillion dollars in deficit reduction you need to put everything on the table. not just taxes for the wealthy. that's an important piece of it, but it isn't all of it. you need much more. >> the president said today in his news conference that he was very familiar with the literature on the overreach of presidents in their second term or their potential for overreach. do you think that's a possibility here? do you see that? we have heard, for instance, republicans say, hey, we can talk about immigration now. is it possible that some things actually are in reach? >> oh, i do think -- i think
if speaker boehner says i'll go along with that, that's where we'll start. i think the conversation is under way for a solution. >> ifill: senator durban, are you kicking the can down the road by only talking about the tax ruts and not talking about the spending cuts as well? >> let me tell you something, i was on the bowles simpson commission, i voted for it, bipartisan commission that included spending cuts as well as revenue increases. i know that to reach four or five trillion...
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for boehner, he wants a deal. i do want to comment a second on the interview you had with paul ryan. ryan might not think that there is a mandate, but the president does, congressional democrats do, and the public does, if you look at polling. and there's zero chance that the president is going to compromise on this, which is why i think there's a decent chance all the tax cuts go away at the end of the year. the president put down a marker yesterday saying $1.6 trillion in total revenue that he wants to raise. i don't think that's the real number. i think that's a negotiated number. but you know the floor is $800 billion because that's what he had last year when he had a much weaker hand. so the number falls in between 800 and $1.6 trillion. you can't get to that number by just closing loopholes. there's no way congress is going to get rid of the charitable tax deduction. there's no way that we're going to change the dynamics in the housing market when the housing market is starting to recover by getting rid of t
for boehner, he wants a deal. i do want to comment a second on the interview you had with paul ryan. ryan might not think that there is a mandate, but the president does, congressional democrats do, and the public does, if you look at polling. and there's zero chance that the president is going to compromise on this, which is why i think there's a decent chance all the tax cuts go away at the end of the year. the president put down a marker yesterday saying $1.6 trillion in total revenue that...
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obama and house speaker john boehner are due to begin negotiations friday on averting the so-called fiscal cliff of expiring tax cuts and automatic spending reductions set to take effect at the end of the year. speaking in washington, treasury secretary timothy geithner stressed the urgency of reaching a deal. >> i know the cliff is unattractive. it would cause a lot of damage to the american economy. a careful about those who argue and urge for "let's just extend while we negotiate." it will leave a different source of uncertainty on the table, like what would give the people the incentive to come back and do something tough. >> millions of workers in europe have joined a general strike today protesting the wave of spending cuts and tax hikes that has swept the continent in the name of austerity. spanish and portuguese workers are coordinating their strike with work stoppages also planned in greece, italy, france and belgium. we will have more on the strike after headlines. closing arguments have ended in a pretrial hearing to determine whether u.s. staff sergeant robert bales will face a
obama and house speaker john boehner are due to begin negotiations friday on averting the so-called fiscal cliff of expiring tax cuts and automatic spending reductions set to take effect at the end of the year. speaking in washington, treasury secretary timothy geithner stressed the urgency of reaching a deal. >> i know the cliff is unattractive. it would cause a lot of damage to the american economy. a careful about those who argue and urge for "let's just extend while we...
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speaker boehner is talking about closing loopholes. other republicans are saying maybe like they're prepared to look at revenue. what are... are there concrete examples there that have the makings of some kind of deal down the road? >> very little is ccrete at this point. but the movement from saying we don't want government to grow at all. the answer to this fiscal crisis is not to grow government to the position that you're hearing from leadership now which is, yes, we can have revenue. that's part of a broader deal that we're going to make. that's a substantial shift. that's not the same thing as the fight over tax rates, income tax rates. the president has said i will sign no deal that doesn't bring the income tax rates for the top earners back up to 96.5%. that's a slightly... there's a new nuance there that gives politicians wigg room over at the definition of revenue is, but there has been movement on that. there's been even more movement. you heard a prominent republican on the sunday shows, bill kristol a prominent conservativ
speaker boehner is talking about closing loopholes. other republicans are saying maybe like they're prepared to look at revenue. what are... are there concrete examples there that have the makings of some kind of deal down the road? >> very little is ccrete at this point. but the movement from saying we don't want government to grow at all. the answer to this fiscal crisis is not to grow government to the position that you're hearing from leadership now which is, yes, we can have revenue....
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that's the fourth ranking leadership position in the house republican leadership with john boehner, eric canter and kevin mccarthy ahead of her. that's big news for house republicans. also big news on the democratic side of the house today after much, much speculation, nancy pelosi announced she'll stay on for another two years as a top democrat in the house. but that wasn't the only message she was sending today. despite losing the gavel to republicans in 2010 and failing to win it back last week, nancy pelosi says she's staying. >> i have made a decision to submit my name to my colleagues to once again serve as the house democratic leader. >> reporter: flanked by dozens of her democratic female colleagues, pelosi clearly relished the chance to draw a stark contrast with house republicans. >> i'm so proud to stand here with you, my sisters. this is girls morning out. we must have the further empo r empowerment of women. this statement of the strength of women in the congress of the united states. >> reporter: the next congress will have a record 78 women serving in the house. 58 of them
that's the fourth ranking leadership position in the house republican leadership with john boehner, eric canter and kevin mccarthy ahead of her. that's big news for house republicans. also big news on the democratic side of the house today after much, much speculation, nancy pelosi announced she'll stay on for another two years as a top democrat in the house. but that wasn't the only message she was sending today. despite losing the gavel to republicans in 2010 and failing to win it back last...
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does john boehner have the votes to match that? >> the white house figures he will portray himself as the chapel yofnt middle class and the republicans are going out for the rift and he feels he can largely beat hem into submission. when they sit down to the bargaining table they might make some changes but he will want to come out of these negotiations as having largely won them and leaving scraps for the republicans. what the republicans have to hit back with is the way you increase revenues is by having rising incomes. you don't get that by higher taxes on a weakening economy. bill: the president plans to open the talks using his most recent budget proposal. wasn't that the budget that got zero votes in the senate? >> he's going to exploit it for all it's worth. you could come to an agreement using bowles and simpson and reducing rates so everyone declares victory. you have got more revenue but the rates don't go up. but i don't think the president is interested in that. if you had normal people doing this. this president web ma
does john boehner have the votes to match that? >> the white house figures he will portray himself as the chapel yofnt middle class and the republicans are going out for the rift and he feels he can largely beat hem into submission. when they sit down to the bargaining table they might make some changes but he will want to come out of these negotiations as having largely won them and leaving scraps for the republicans. what the republicans have to hit back with is the way you increase...
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president, john boehner, harry reid, and senator mcconnell -- you can't do in three and half weeks a half weeks what needs to be done. the next year is that moment of opportunity. and i think the work is being done and i think this will help get a result. >> when he does come back and say, i was disappointed when the president come after simpson-bowles, didn't really embrace it and i don't know that we would've adopted it, but it would have been the least possible. it is because the president has been reelected after a very tough campaign. the republicans have been upset by the results of the campaign and you have the raw personal material for this to work out to everyone's benefit. he is very much smart and very effective. >> inner has to get the votes. he calls for both it only gets a vote on his conference committee has problems of his own. .. >> maybe the world economy would collapse if we didn't deal with it, it was taken tonight house of representatives r and it was defeated, and they timely got it passed after they -- after the market tankedded, and then you had the same crowd
president, john boehner, harry reid, and senator mcconnell -- you can't do in three and half weeks a half weeks what needs to be done. the next year is that moment of opportunity. and i think the work is being done and i think this will help get a result. >> when he does come back and say, i was disappointed when the president come after simpson-bowles, didn't really embrace it and i don't know that we would've adopted it, but it would have been the least possible. it is because the...